btc-arbs.com - Update: dead HYIP, Refund progress: BTC-arbs still doing refunds

[dyask]

Why number of posts matter at all? I had my 1st post on this forum today, but I've mined my 1st btc way before most people did on this forum.

As I mentioned, I have been watching this thread from day 0 and the only reason I got registered here today was to share my opinion on FreeJack2k2's posts. Since past week or so I started to have second thoughts on him, and finally today I felt like I should share my opinion. If you read my and NLNico's posts, I hope the reasons are quite clear.

Let's see ... took me 16 days to mine my last bitcoin, what does that have to do with anything here?   I lurked for months before I joined and when I did join it sure wasn't to share my opinion about someone else's posts.   Well that isn't 100% true, I was pretty fed up with all the nonsense people were posting about possible bitcoin 51% attacks, but that was a topic not a person.   I do tend to tangle with people so I have to curb myself often.    However, the only clear message I saw in your posts was that you were enjoying hounding someone and now I'm getting abusive so I'll stop.

   

[romang]

Got this email from bitcoin-trader.biz today.


Bitcoin Trader is pleased to announce the launch of our Spanish and Italian webpages.

At Bitcoin Trader we believe that providing the best service to our clients and prospective clients is of the highest importance. It is of essence that the client understand everything he/she needs to know about our business and what we have to offer. Getting this information in one's native tongue will ease this process.

Currently a Portuguese version is in the make, that should be available within two weeks. We estimate that our Russian and German webpages will be online by the end of April.

Please note that due to the nature of our web app, currently only frontend pages can be translated.
 
    
    
The current state of Bitcoin
 
    

We've hit the lowest price so far in 2014; one Bitcoin is now worth about half its value compared to three months ago, as the market is still searching for a bottom. Many expect the bottom to be around USD 400 and the order books of some of the exchanges seems to confirm this prediction. Bitstamp alone has bids for 5000+ Bitcoins in the region of USD 400 ± USD 5 at the time of writing.

We must also consider that the current market is highly manipulated by a very few high volume traders who are taking full advantage of the current situation. I can't blame them, it's part of cryptos in general, but I would like to have a bit more stability in the market. In addition the few exchanges we have are acting sometimes kinda surreal. I give you an example, by quoting a recent comment I read on Coindesk:

"These exchanges make no sense to me. Buy .25 bitcoin, price goes up $.75. Buy 12 bitcoin and price goes up $.05. Makes no sense to me."

I totally agree with this guy - he is right. I have observed such bizarre market movements many times, despite any indication why it is moving this way or that way, i.e. low or high trade volumes at the time of the trade etc.

Bitcoin is still creating massive controversy in the media. Often about its risks, dangers, and dubious mainstream appeal. On the other side we have good news as well, plenty of good news to be frank: More and more large retailers are accepting Bitcoin for purchases. In The Hague [Netherlands] a joint initiative of restaurants and pubs led to the 'Bitcoin Boulevard' a street where all joints in the street are accepting Bitcoin. Almost every day somewhere a Bitcoin ATM is going into service. The IRS "property" classification for Bitcoin reaffirms it's status as digital gold. To name just a few examples.

No doubt, Bitcoin is becoming mainstream and I am bold enough to argue that the current Bitcoin price is undervalued - if not a joke!
 
    
    
Trading update
 
    

While trading went well for most of March, we had the first loss day in over three months last week. The reason was very slim spreads among all exchanges during Bitcoins 'free fall' and thus existing opportunities expired before our trades concluded.

The chart below taken from Coindesk, our official Bitcoin Price Index source, is illustrating how close the exchanges are currently.



The spreads between the exchanges remain very slim since, but we are confident that we can still deliver around 20% earnings per month, even if the situation remains unchanged.
 
    
    
Mining update
 
    

While price hikes and drops are good for arbitrage trading, mining with the ever increasing difficulty needs a stable and gradually increasing Bitcoin price.

Unfortunately Bitcoin lacks any fundamentals that anchor the Bitcoin price, as there are for most assets, despite the high costs of mining equipment and the recurring costs of electricity. Anchors that are factored in the prices of natural resources like oil, gas, gold or diamonds for example.

As from tomorrow the hashing rate per share will be increased to 10 GH/s per share. We remain confident that our mining shares will remain profitable in the months to come.
 
    
    
Join our Social Network
 
    

Bitcoin Trader has a social networking presence on Facebook, Twitter and Google+. Our official pages keeps you updated with daily results, news and important announcements.

We recommend to all our clients to join at least one of our online communities to keep yourself informed and updated about our services.

Thanks for reading and our warmest regards,
John Carley
 
 
 
Copyright © 2014 Bitcoin Trader - All rights reserved.
 

[Slipknot79]

I tried to start deposit-procedere of some $ via bank wire (to find out their account data, not to really transfer money). Theres was this message, that i get contated by them within 24 hours, but nothing has happened till now, 2 days past. Has anyone of you their bank wire data?

Its seems that their daily gains aint consistent compared to my own calculations of my interest. I get more bitcoins than i expected.

[wdl1908]

Its seems that their daily gains aint consistent compared to my own calculations of my interest. I get more bitcoins than i expected.

I get consistent results.

I keep a spreadsheet with all the movement and percentages and they always come out exactly as on the site.

Maybe there is something wrong with your calculations.

[riekinho]

DNS_PROBE_FINISHED_NXDOMAIN

I gave it a chance after reading and sent 0.5 BTC 24 hours ago.
I still see 0 as my bit-arbs balance.
Is that common?

[nightengale]

DNS_PROBE_FINISHED_NXDOMAIN

I gave it a chance after reading and sent 0.5 BTC 24 hours ago.
I still see 0 as my bit-arbs balance.
Is that common?

It's not intuitive, but on the site did you click the button confirming the BTC had been sent? You have to tell them how much you're going to send, send it, then confirm that you sent it. All of my deposits have confirmed in < 24 hours.

[TheAwer]

Got this email from bitcoin-trader.biz today.

I don't know if you realized, but what you posted is about Bitcoin Trader, not BTC Arbs.  Is this related to BTC Arbs in any way? 

I keep a spreadsheet with all the movement and percentages and they always come out exactly as on the site.

Ditto to that.  It always matches up (except for the referral earnings).

Why number of posts matter at all? I had my 1st post on this forum today, but I've mined my 1st btc way before most people did on this forum.

People aren't likely to trust someone who just joined.  And there wasn't a way for us to know about your bitcoin mining.

[Slipknot79]

Its seems that their daily gains aint consistent compared to my own calculations of my interest. I get more bitcoins than i expected.

I get consistent results.

I keep a spreadsheet with all the movement and percentages and they always come out exactly as on the site.

Maybe there is something wrong with your calculations.

How do you calculate this?

I do: new_balance = old_balance x (1 + percentage/100)

[wdl1908]

How do you calculate this?

I do: new_balance = old_balance x (1 + percentage/100)

yep but you have to but off the decimals past the fourth digit. So no rounding.

best way to do that is int(amount *10000)/10000

[TheAwer]

best way to do that is int(amount *10000)/10000

There's also the TRUNC function.  

Another issue: on the interest for April 1st, the interest is given as 1.05%.  But in the report, it says that "Today's result is 1.045%". 

[Okilo]

Another issue: on the interest for April 1st, the interest is given as 1.05%.  But in the report, it says that "Today's result is 1.045%".  

Plus it talks about the prices in the 500's when it should be 400's. Typo?  

I sent in a support ticket asking about including the transaction ID in the transaction details for withdrawals and Adam responded, saying: "We will look into adding this, though it may be slightly more complicated with the whole transaction malleability thing." I responded that the new bitcoin qt wallet 0.9 takes care of TM, but no answer several days later.

What's to stop someone from making ten accounts, all referring to one another in a line, and picking up extra interest?

It's all just so sketchy. It's like that feeling you got trading at cryptorush. Idk. I pulled out my initial investment and am playing with house btc.

[TheAwer]

What's to stop someone from making ten accounts, all referring to one another in a line, and picking up extra interest?

I don't think the referral bonus carries on beyond one level.

[Qwiner]

Quote from: Creature13 on Today at 03:53:48 AM
Thank you for your message. A member of our administrative team will get back to you within the next 24 hours.

But no one ever gets back to me. I've listed email address and phone number in the message body. I am getting very unhappy with this situation. If anyone has contact information other than that Contact Us form, please let me know.
There was an email posted a few pages back, I believe it was something like admin@btc-arbs.com or something.  I also sent an contact form with a few questions that was never answered either.

I don't know much about using 2FA, but there is a chance you are doing it wrong?

==========================================================================

Thanks. I will give that email a shot. You are correct. I very well may be doing it wrong. That's why I need help and why I've been submitting forms for weeks.

I'll see if I get any help via email. maybe the form is broken.

Thanks again,
c13

I'll try to open a support ticket about this issues, about the "forget password" issues, using my account, and see what they will say.

I got the reply, here it is >> I copy and paste:


From   administrator
Sent on   April 01st 2014
We are in the midst of improving our outside of the site contact functions. I anticipate posting improvements in the near future. One of the issues with e-mail is we get a crazy amount of spam through it.

Adam


----------------------------------
Qwiner on 01/04/2014 07:37:38
Hi,

I have heard a lot of errors about your site, in relation to your FORGOT PASSWORD + CONTACT US function. Many of the users are complaining that they use those functions, and fill out the form. But the queries were never answered.

I do understand that when users have queries, btc-arbs will always answer user's queries through user's SUPPORT ZONE.
Is there an alternative way for user to contact btc-arbs, without accessing their account? eg. when users have forgotten their password. As btc-arbs never answer user's queries through the user's email.

If so, this means that, at btc-arbs.com, means that if forget your password, U will lost your account forever?

Reply


As his reply did not really answer my question, so I did another reply to this support ticket, see what he will say for users who forget their password,  how can they recover their account

[Okilo]

What's to stop someone from making ten accounts, all referring to one another in a line, and picking up extra interest?

I don't think the referral bonus carries on beyond one level.

no, but the bonus will result in a little more payout, which gives acct # 3 more payout, and so on... this is how some scams work.

[riekinho]

It's not intuitive, but on the site did you click the button confirming the BTC had been sent? You have to tell them how much you're going to send, send it, then confirm that you sent it. All of my deposits have confirmed in < 24 hours.

Did so!

EDIT: It cleared now!

[Creature13]

Quote from: Creature13 on Today at 03:53:48 AM
Thank you for your message. A member of our administrative team will get back to you within the next 24 hours.

But no one ever gets back to me. I've listed email address and phone number in the message body. I am getting very unhappy with this situation. If anyone has contact information other than that Contact Us form, please let me know.
There was an email posted a few pages back, I believe it was something like admin@btc-arbs.com or something.  I also sent an contact form with a few questions that was never answered either.

I don't know much about using 2FA, but there is a chance you are doing it wrong?


==========================================================================

Thanks. I will give that email a shot. You are correct. I very well may be doing it wrong. That's why I need help and why I've been submitting forms for weeks.

I'll see if I get any help via email. maybe the form is broken.

Thanks again,
c13

I'll try to open a support ticket about this issues, about the "forget password" issues, using my account, and see what they will say.

I got the reply, here it is >> I copy and paste:


From   administrator
Sent on   April 01st 2014
We are in the midst of improving our outside of the site contact functions. I anticipate posting improvements in the near future. One of the issues with e-mail is we get a crazy amount of spam through it.

Adam


----------------------------------
Qwiner on 01/04/2014 07:37:38
Hi,

I have heard a lot of errors about your site, in relation to your FORGOT PASSWORD + CONTACT US function. Many of the users are complaining that they use those functions, and fill out the form. But the queries were never answered.

I do understand that when users have queries, btc-arbs will always answer user's queries through user's SUPPORT ZONE.
Is there an alternative way for user to contact btc-arbs, without accessing their account? eg. when users have forgotten their password. As btc-arbs never answer user's queries through the user's email.

If so, this means that, at btc-arbs.com, means that if forget your password, U will lost your account forever?

Reply


As his reply did not really answer my question, so I did another reply to this support ticket, see what he will say for users who forget their password,  how can they recover their account

Thank you. Please keep me updated.  It's very frustrating and feels as if it's an additional gamble holding the account with no one to communicate with. Hopefully it's not my loss their gain.

Let me know what you hear.

Thanks
c13

[wdl1908]

One of the issues with e-mail is we get a crazy amount of spam through it.

Adam

Now this is hard to believe. It's fairly easy for a domain owner to register for mail addresses that are handled by google. Which provides spam handling etc.... There are other services like Trend Micros that do spam filtering. For limited service 1 domain with a few addresses google is free. Trend Micros is not free but not that expensive either.

[TheAwer]

I'm out for now.  Too many weird things recently.  If they prove their legitimacy, I'll get back in, but now they're just too sketchy for me.  I might look into bitcoin-trader.biz (they do arbitrage too, and are significantly more trustworthy) when the price of bitcoin goes back up.

I do still have one referrer in BTC Arbs, so I'll still be making some money. 

Another thing: one of my withdrawals was "cancelled by admin" because I "provided an invalid address".  I don't think I messed the address up because I think I copied the address straight from MultiBit, but I could have made a mistake.  I did immediately send a withdrawal request to get all my money out, and that went through fine.  This happen to anyone else?

[nightengale]

I'm out for now.  Too many weird things recently.  If they prove their legitimacy, I'll get back in, but now they're just too sketchy for me.  I might look into bitcoin-trader.biz (they do arbitrage too, and are significantly more trustworthy) when the price of bitcoin goes back up.

I do still have one referrer in BTC Arbs, so I'll still be making some money. 

Another thing: one of my withdrawals was "cancelled by admin" because I "provided an invalid address".  I don't think I messed the address up because I think I copied the address straight from MultiBit, but I could have made a mistake.  I did immediately send a withdrawal request to get all my money out, and that went through fine.  This happen to anyone else?

What makes you say that bitcoin-trader.biz is more trustworthy?

[dyask]

I'm out for now.  Too many weird things recently.  If they prove their legitimacy, I'll get back in, but now they're just too sketchy for me.  I might look into bitcoin-trader.biz (they do arbitrage too, and are significantly more trustworthy) when the price of bitcoin goes back up.

bitcointrader.biz demands a great deal more trust as once you deposit you can't pull out for 120 days.   To me that makes it much more likely to be a scam.